Profits down at Norse Care

Revenues remained static for local authority-owned care provider Norse Care. For the year ended 31 January 2015 turnover stood at £33.4m, marginally less than the previous year’s £33.5m. After deducting cost of sales of £28.7m (2014: £29.7m) and administrative expenses of £4.5m (2014: £3.3m) and taking into account other operating income of £38,000 (2014: £19,000), Norse Care recorded a drop in operating profit from £526,000 to £245,000. With the addition of income from bank interest and interest from group companies of £51,000 (2014: £24,000) and subtracting £98,000 of interest on bank borrowing (2014: nil), the business made a pre-tax profit of £198,000 (2014: £550,000).